Retail sales begin to normalise

Retail sales are starting to normalise after last year’s stimulus driven bonanza.

Today, the Australian Bureau of Statistics (ABS) released data showing that sales fell 0.8% in February, with annual growth also moderating to 9.1%:

Australian retail sales

Retail sales are slowing after last year’s stimulus-driven boom.

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Sales growth was mixes across jurisdictions, with three posting falls and five posting rises:

Retail sales by state

A retail mixed bag.

Finally, food retailing (-3.0%) drove the monthly decline in sales, whereas most other categories posted growth in February:

Retail sales by industry

Food retailing dragged monthly sales down.

Full report here.

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